Acadian Asset Management LLC Has $1.11 Million Position in Shutterfly, Inc. (SFLY)
Acadian Asset Management LLC reduced its stake in shares of Shutterfly, Inc. (NASDAQ:SFLY) by 33.8% during the second quarter, Holdings Channel reports. The fund owned 23,441 shares of the technology company’s stock after selling 11,987 shares during the period. Acadian Asset Management LLC’s holdings in Shutterfly were worth $1,114,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in SFLY. Elkfork Partners LLC acquired a new position in Shutterfly during the first quarter valued at approximately $116,000. LS Investment Advisors LLC raised its position in Shutterfly by 132.9% in the second quarter. LS Investment Advisors LLC now owns 2,888 shares of the technology company’s stock valued at $137,000 after buying an additional 1,648 shares during the last quarter. Meadow Creek Investment Management LLC acquired a new position in Shutterfly during the first quarter valued at approximately $141,000. Ameritas Investment Partners Inc. acquired a new position in Shutterfly during the first quarter valued at approximately $144,000. Finally, State of Alaska Department of Revenue acquired a new position in Shutterfly during the first quarter valued at approximately $180,000.
Shares of Shutterfly, Inc. (SFLY) traded down 1.65% during midday trading on Thursday, hitting $45.80. The stock had a trading volume of 167,653 shares. The firm has a 50-day moving average price of $47.66 and a 200-day moving average price of $48.41. Shutterfly, Inc. has a 1-year low of $41.91 and a 1-year high of $53.99. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 279.27 and a beta of 0.85.
Shutterfly (NASDAQ:SFLY) last announced its quarterly earnings data on Tuesday, July 25th. The technology company reported ($0.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by $0.13. Shutterfly had a return on equity of 3.61% and a net margin of 0.50%. The firm had revenue of $209.03 million for the quarter, compared to analysts’ expectations of $209.46 million. During the same quarter in the prior year, the business posted ($0.48) earnings per share. Shutterfly’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts anticipate that Shutterfly, Inc. will post $0.46 EPS for the current fiscal year.
Shutterfly declared that its board has authorized a stock buyback plan on Tuesday, April 18th that authorizes the company to buyback $140.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 8.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
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Several equities analysts recently commented on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $53.00 target price on shares of Shutterfly in a research note on Friday, August 4th. BidaskClub lowered Shutterfly from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Aegis reiterated a “buy” rating and issued a $57.00 target price on shares of Shutterfly in a research note on Wednesday, April 26th. Zacks Investment Research lowered Shutterfly from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, TheStreet lowered Shutterfly from a “b-” rating to a “c+” rating in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $53.89.
In other Shutterfly news, Director Betsy Rafael sold 1,060 shares of the firm’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $47.76, for a total transaction of $50,625.60. Following the transaction, the director now directly owns 5,046 shares in the company, valued at $240,996.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann Mather sold 1,662 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $49.86, for a total value of $82,867.32. Following the transaction, the director now owns 6,799 shares in the company, valued at $338,998.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,290 shares of company stock valued at $2,958,580. 5.70% of the stock is owned by corporate insiders.
Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.
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